Downtown Saratoga Springs Retail/Office
92 Congress Street Saratoga Springs, NY 12866
92 Congress Street, Saratoga Springs, NY, 12866
$3,300,000
For Sale
$3,300,000
Two-story, 10,000 SF retail/office building in downtown Saratoga Springs.
Property Size10,000 SF
Lot Size0.44 Acres
Price / SF$330
Days on Market119
Property Features for 92 Congress Street
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Lot size
- 0.44 Acres
- Property subtype
- Office
Listing agency
CBRE | Albany
(518) 424-4977
Listed by
Ann MacAffer · License #Associate Real Estate Broker
(518) 424-4977
Source
Cbre
Added: Mar 25 Updated: Jul 6 at 12:40PM Checked: Jul 21 at 5:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Albany
Investment Insights
Based on property information with market context.
Offered for sale is a two-story retail/office building with approximately 10,000 square feet of space. The building is located in downtown Saratoga Springs, adjacent to the Embassy Suites by Hilton Hotel. Situated on approximately 0.44 acres, the property includes approximately 16 parking spaces and one passenger elevator. The building is 100% occupied, with multiple tenants on the first floor. The seller occupies the entire second floor and could vacate all or part of it for an owner/user occupant. The property is located on Congress Street, between South Franklin Street and Hamilton Street. It is proximate to many amenities, including retail users, entertainment venues, and other commercial users. The property is within walking distance of Congress Park, Broadway, hotels, restaurants, and the Saratoga Springs welcome center.
Key Highlights
- Opportunity for owner/user to occupy all or part of the second floor.
- 100% occupied building with multiple tenants on the first floor.
- Located in downtown Saratoga Springs, adjacent to Embassy Suites by Hilton Hotel.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $216.0k | $21.60 |
| − Vacancy | −$35.6k | −$3.56 |
| EGI | $180.4k | $18.04 |
| − OpEx | −$45.1k | −$4.51 |
| NOI | $135.3k | $13.53 |
10,000 SF · lease $21.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.25M
NOI $135,270 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$1.72M
$1.51M – $2.01M
NOI $120,708 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,520 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fat Paulie's Delicatessen
Restaurant
PrimeLending, A PlainsCapital Company
Loan Service
Becky Kendall
Loan Service
Make a Wish
Charitable Organization
Saratoga CoWorks
Coworking & Hybrid Office
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story, 10,000 SF retail/office building in downtown Saratoga Springs.
Where is this office building located?
The property is located at 92 Congress Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Opportunity for owner/user to occupy all or part of the second floor.; 100% occupied building with multiple tenants on the first floor.; Located in downtown Saratoga Springs, adjacent to Embassy Suites by Hilton Hotel.
